2024-4-29 14:31 |
The Japanese yen swung wildly on Monday, recovering 500 pips from over three-decade lows on suspected BOJ intervention.
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The leading cryptocurrency had crossed $70,000 for the first time ever last week.
The BOJ's yield curve control program has been a major source of liquidity for financial markets since 2016. Early Tuesday, the bank tweak the curve control program in what appears to be a stealth hawkish move.
The BOJ's yield curve control program has been a major source of liquidity for financial markets since 2016. Early Tuesday, the bank tweak the curve control program in what appears to be a stealth hawkish move.
The BOJ is predicted to soften its grip on the country's bond markets, potentially influencing global bond markets, exchanges rates and liquidity conditions. Bitcoin and cryptocurrencies, in general, are sensitive to changes in global liquidity conditions.
With the end of the proofs of concept, the Bank of Japan has initiated its CBDC pilot and plans more to gather more public and business feedback.
The Bank launched a pilot program for “digital yen” in April after finishing its proof-of-concept testing, which began in 2021.